ADA has consolidated roughly 30% since its ATH. It has maintained its levels above the $1.00 range. IOHK's CEO has stated deals and partnerships are coming down the pipeline, and mentioned big announcements regarding the Africa Special, said to onboard 5 million users to Cardano partnering with the Ethiopian country. Could CQ3ardano slide below $1.00. This is possible, as Bitcoin has reached levels between 45 and 55k as of this writing, should BTC further slide, we may see more attractive pricing in the altcoin space.However, what is different about this market capitulation is that institutions are still buying during this correction. This seems to be a more normalized market correction in an already volatile market.
With smart contracts estimated to come Q3-Q4 of 2021, Cardano has a shot at taking market share away from the Ethereum network with its release of the ERC-20 token converter.
Cardano is a solid long term hold, that can also be staked.
Not financial advice, do your own research.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.